H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR—233 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Sept. 8; of the Federal Reserve System not earlier. September 7, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 6 member bank reserve balances increased $190,000,000. Additions to member bank reserves arose from increases of $195,000,000 in Reserve bank credit, $88,000,000 in gold stock and $3>000,000 in Treasury currency, and decreases of $63,000,000 in Treasury cash and ¿33»000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of $120,000,000 in money in circulation and $72,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on September 6 v;ere estimated to be approximately $4,970,000,000, an increase of $170,000,000 for the week. The principal change in holdings of bills and securities was an increase of $168,000,000 in United States Government securities, direct and guaranteed, of which $109,000,000 was in bonds and $59,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended September 6, 1939, were as followsI Increase or decrease since Sept. 6, Aug. 30, Sept, 7, 1939 1939 1938 (in millions of dollars) Bills discounted 6 -- 1 Bills bought 1 -» — U. S. Gov’t securities, direct and guaranteed 2,594 +168 + 30 Industrial advances (not including 11 million coaiuitments - September 6) 12 »>■ » 4 Other Reserve bank credit 30 + 27 + 25 Total Res-.’ve bank credit 2,643 +195 + 51 Gold f.:tock 16,726 + 88 +3,489 Treasury currency 2,908 + 3 + 179 ¡.lecher bank reserve balances 11,141 +190 +2,872 Money in circulation 7,261 +120 + 682 Treasury cash 2,264 - 63 - 315 Treasury deposits with F. R. banks 676 - 33 + 115 Nonmenber deposits and other F. R. accounts 935 + 72 + 364 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Sept. 8,1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept. 6, 1 COi 0 •v Sept. 7, 1939 .. 1.93.9 . 1938 A S S E T S Gold certificates on hand and due from U, S. Treasury 14,452,221 +140,001 +3,821,302 Redemption fund - F. R. notes 8,644 — - 277 Other cash ...... 107,731 — 48,089 Total reserves 14,768,646 +108,034 +3,772,936 Bills discounted» Secured by U. S. Gov*t obligations, direct and guaranteed 1,546 563 — 2,094 Other bills discounted _ _ Ath&êi + 371 + 1.024 Total bills discounted 5,998 192 - 1,070 Bills bought in open market 546 — + 9 Industrial advances 11,627 4o - 4,197 U. S, Government securities, direct and guaranteed* Bonds 1,021,219 +108,759 + 277,114 Notes 1,233,573 + 59,464 + 42,385 Bills . 334,620 — - 289,102 Total U. S. Government securities, direct and guaranteed 2,594,412 +168,2 2.3 + 30,397 Total bills and securities 2,612,583 +167,991 + 25,139 Due from foreign banks 177 — — 7 F. R. notes of other banks 23,300 - 364 - 2,4di Uncollected items 586,943 - 1,761 + 52,886 Bank premises 42,162 49 - 2,242 Other assets 61,232 + 9,110 + - T i m T O T A L A S S E T S 18,095,043 +282,961 +3,854,252 L I A B I L I T I E S F. R. notes in actual circulation 4,683,716 + 74,434 + 471,368 Deposits * Member bank - reserve account 11,140,608 +189,6o4 +2,871,484 U, S. Treasurer - General account 675,555 • ~ 33,056 + 114,191 Foreign bank 397,183 + 47,051 + 260,446 Other deposits 291,243 ±--22j480 + 111.445 Total deposits 12,504,594 +237,079 +3,357,566 Deferred availability items 556,831 - 28,709 27,486 Other liabilities including accrued dividends ....3.,557 ~ . J_91 + 78 T O T A L L I A B I L I T I E S 17,748,693 +282,413 +3,856,498 C A P I T A L A C C O U N T S Capital paid in 135,496 + 9 + 1,498 Surplus (Section 7) 149,152 —- + 1,413 Surplus (Section 13b) 27,2.64 --- — 419 Other capital accounts Jkéïà + 539 - __4iZ38 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 18,095,043 +282,961 +3,854,252 Ratio of total reserves to deposit and F. R. note liabilities combined 85*9$ - 1.0$ + 3.6$ Contingent liability on bills purchased for foreign correspondents 101 --- — 284 Commitments to make industrial advances 10,931 78 2,608 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OIJ SEPTEMBER 6, 1939 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 14,452,221 802,740 7,069,535 724,949 849,973 386,136 301,503 2,267,115 368,694 256,106 359,405 232,597 833,468 Redemption fund - F.R.notes 8,644 334 1,287 742 888 871 641 891 435 375 635 463 1,082 Other cash 307,781 20,346 82,844 26,058 21,243 20,216 17,883 37,443 15,581 8,334 17,848 12,903 27,182 Total reserves 14.768,646 823,320 7,153,666 751,749 872,104 407,223 320,027 2,305,449 384:-,710 264,815 377,828 245,963 861,732 Bills discounted: Secured by U.S.Gov’t obligations, direct and guaranteed 1,546 35 909 141 113 98 30 62 44 10 — 34 70 Other bills discounted 4,452 — 1,745 196 235 287 143 245 93 68 352 376 712 Total bills discounted 5,998 35 2,654 337 348 385 173 307 137 78 352 410 782 Bills bought in open market 546 41 212 55 51 24 19 69 2 2 16 16 39 Industrial advances 11,627 1,745 2,040 2,681 365 1,054 752 371 3 819 204 551 1,042 U. S. Government securities, direct and guaranteed* Bonds 1,021,219 74,839 302,960 86,806 102,341 56,191 42,863 110,107 46,254 2.8,612 49,64-1 38,489 82,116 Notes 1,238,573 90,769 367,441 105,282 H £ *s H 68,148 51,986 133,541 56,099 34,702 60,200 46,680 99,593 Bills 334,620 24,522 99,270 28,44-3 33,534 18,412 14,045 36,078 15,156 9,375 16,266 12,612 26,907 Total U.S.Gov’t securities, direct and guaranteed 2,594,412 190,130 769,671 220,531 259,999 142,751108,894 279,726 117,509 72,689 126,115 97,781 208,616 Total bills and securities 2.612.583 191,951 774,577 223,604 260,763 144,214 109,838 280,473 117,651 73,588 126,687 98,758 210,479 Due from foreign banks 177 13 66 18 16 8 6 22 3 2 5 5 13 F. R. notes of other banks 23,300 683 3,877 673 1,223 1,853 1,223 2,917 1,941 1,897 1,747 421 4,845 Uncollected items 586,943 53,266 132,310 39,101 65,222 54,390 24,224 81,898 29,597 17,679 32,677 25,513 31,066 Bank premises 42,162 2,908 8,909 4,615 5,918 2,570 2,047 3,890 2,260 1,505 3,144 1,222 3,174 Other assets 61,232 3,978 18,370 5,478 6,607 3,901 2,669 5,952 2,526 1,738 2,741 2,251 5,021 TOTAL ASSETS 18,095,043 1,076,119 8,091,775 1,025,238 1,211,853 614,159 460,034 2,680,001 538,688 361,2.24 544,889 374,133 1,116,330 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283—c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 6, 1939 (In thousands of dollars) LIA B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Xans.Cy, Dallas San Fran. F. R. notes in actual cir­ > ' v\ V' , culation -4,683,716 397,750 1,190,893 325,727 432,830 208,290 154,919 1,027,063 131,921 135,940 £ to o-\ O 30,986 371,567 Deposits* Member bank-reserve account 31^.40,608 516,352 6,182,855 519,850 572,820 278,759 210,741 1,405,388 253,130 144,199 261,526 202,228 592,760 U.S.Treasurer-General account 675,555 50,768 148,983 51,901 59,915 41,158 40,463 56,409 46,463 40,333 50,7/6 42,601 45,815 Foreign bank 397,183 28,865 139,356 38,889 37,286 17,240 14,032 43,511 11,627 9,221 11,627 11,627 28,902 Other deposits 291,248 5,827 195,546 16,713 12,532 1,893 5,879 14,457 5,359 5,629 2,946 1,284 23,183 Total deposits 12,504,594 601,812 6,666,740 627,353 682,553 339,050 271,11.5 1,524,765 316,579 199,382 326,845 257,740 690,660 Deferred availability items 556,831 52,257 113,571 39,269 63,537 51,861 21,182 83,717 29,493 16,655 31,976 24,246 29,067 Other liabilities including accrued dividends 3,557 384 1,212 526 273 81 143 267 125 126 163 98 154 TOTAL LIABILITIES 17,743,698 1,052,203 7,972,416 992,875 1,179,193 599,282 447,364 2,635,812 523,118 352,103 534-,814 363,070 1,091,448 C A P I T A L A C C O U N T S Capital paid in 135,496 9,405 50,873 12,116 13,755 5,116 4,559 13,304 3,993 2,917 4,296 4,046 10,616 Surplus (Section 7) 149,152 10,083 52,463 13,696 14,323 4,983 5,630 22,666 4,685 3,153 3,613 3,392 9,965 Surplus (Section 13b) 27,264- 2,874 7,457 4,416 1,007 3,293 713 1,429 545 1,001 1,142 1,266 2,121 Other capital accounts 34,433 1,554 8,566 2,135 3,575 1,485 1,763 6,390 1,347 2,050 1,024 1,359 2,130 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,095,043 1,076,119 8,091,775 1,025,238 1,211,853 614,159 460,034 2,680,601 533,688 361,224 544,339 374,133 1,116,330 Contingent liability on bills purchased for foreign correspondents 101 7 36 10 10 4 4 12 3 2 3 3 7 Commitments to make industrial advances 10,931 598 1,944 1,338 1,471 916 139 30 424 64 596 — 3,411 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 davs 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Yaars Bills discounted 5,998 4,184 365 669 597 182 1 — — — Bills bought 546 135 — 209 202 — — — — — Industrial advances 11,627 1,318 230 392 471 1,374 2,316 2,526 2,500 — U.S. Government securities, direct and guaranteed 2,594,412 62,250 43,913 64,077 123,955 141,174 300,488 347,162 578,588 927,805 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—233-d FEDERAL RESERVE ITOTE STATEMENT 01! SEPTE.IBER 6, 3.939 (In thousands of dollars) Total Boston Hew York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,945,513 413,463 1,277,199 343,368 452,522 219,479 165,994 1,052,615 192,342 139,740 183,152 88,938 416,701 Held by Federal Reserve bank 261,797 15,713 86,306 17,641 19,692 11,189 11,075 25,552 10,421 3,800 7,322 7,952 45,134 In actual circulation 4,683,716 397,750 1,190,893 325,727 432,830 208,290 154,919 1,027,063 181,921 135,940 175,830 80,986 371,567 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,025,500 420,000 1,303,000 345,000 454,500 220,000 169,000 1,065,000 196,000 141,500 185,000 92,500 434,000 Eligible paper 3,258 35 1,786 141 — 298 — — 52 16 294 — 636 Total collateral 5,028,758 420,035 1,304,786 345,141 454,500 220,298 169,000 1,065,000 196,052 141,516 185,294 92,500 434,636 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis